Without a shred of doubt, industries the world over are experiencing seismic shifts due to the powers of artificial intelligence (AI). From the most popular examples of manual or repetitive tasks being optimised to the instances of machine learning updated operational processes. Of late, AI has been tapping into data around predictable human behaviour, and how it changes with external forces such as wars or even bad weather. The results, for companies like Amazon, means demand prediction will change resource utilisation metrics.
With all this in mind, it’s not surprising that a fear-mongering movement has emerged, lobbying to end the rise of automation based AI. If successful, it would be disastrous for the country that gives in on much more than it’s economies of scale. So to set the record straight, here are the five misconceptions about the intelligence side of AI:
Among the fear party are those that believe that the intelligence in AI can only be afforded by and capitalised on by large corporations, which is entirely not true. Companies like 800Flower would be considered an SME in the MENA region, and can just as easily afford to use C2’s intelligent customer retention mechanisms as the next startup. So the barriers to entry are not limited in any sense. And my argument is more to the fact that instead of worrying about whether your company can afford AI-based solutions, consider the reality that your company cannot afford to operate in the data economy without an AI based solution. Or would you rather lose out to competitors?
The intelligence in AI is not replacing humans any time soon. It’s actually just making our lives smarter, allowing human the time to dream up more ways to save the world. The intelligence in AI is being used to enhance the human experience, not destroy it. While the business planning component of a marketer’s role may be replaced, it frees up time on the actionable creative around matching left and right brain.
They may be construed under the same banner, but big data and AI are wholly separate. From the marketing standpoint, big data is about gathering information on a customer’s habits, customer journey, interest ranges, and buying behaviour. In contrast, AI is about learning to do repetitive tasks and optimising it the same way Henry Ford optimised the assembly line in the early 90’s. When evaluating either, consider what your marketing stack can handle.
Unlike social or digital media, AI-powered solutions take longer to start producing results. Every company is different and there is no one size that will immediately start fitting your matrix. Figuring out the systems and algorithms takes time and so investing in AI requires patience.
The implementation of AI will likely involve technical teams from Centric DXB and your own, which means that marketers are nowhere to be seen for the most part. Preplan so all data access are ready to be integrated with new systems, and data streams are agreed to be used on one final goal. With that in mind, let the techies be.
When used right, AI improves a marketer’ss ability to reach, target, inform, convince and educate the intended audience by directing messages to the right place, time and via the right channel. It’s time to embrace the future and let go of any unwarranted fears that efficiency has to offer. Prepare to ascend above the competition, moving one step closer to the mantle of a memorable brand.